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the world bank sees china expanding by 8.4% next year. it's expecting that it will be fueled by fiscal stimulus and the faster implementation of large investment projects. today's forecast is higher than an earlier one that was sited in a world bank report in october. 8.4%, not bad both if you can get it. >>> speaking of china, the united states is moving forward with plans to slap steep anti-dumping duties on wind turbine towers that are imported from china at prices that are deemed unfairly low. the news from the commerce department comes as u.s. officials welcomed a high-level chinese delegation for trade and economic talks. the u.s. trade panel has final approval over the duties and is expected to vote on the case in late january. >>> in corporate news, ubs hit with a $1.5 million fine today. that will add up, a few more of those. the swiss bank admitting to fraud, it paying bribes to brokers. and pervasive, they call it manipulation of libor by dozens of staff. the penalty was agreed to with u.s., u.k., and swiss regulators. it is mo
the world bank sees china expanding by 8.4% next year. it's expecting that it will be fueled by fiscal stimulus and the faster implementation of large investment projects. today's forecast is higher than an earlier one that was sited in a world bank report in october. 8.4%, not bad both if you can get it. >>> speaking of china, the united states is moving forward with plans to slap steep anti-dumping duties on wind turbine towers that are imported from china at prices that are deemed...
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Dec 19, 2012
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/china relationship? >> well, i think that it's a little too early to tell that this is symptomatic of the new administration. but i do expect that there will be progress in certain areas. china has been asking the u.s. to lift restrictions on high-tech exports. and i gather that the obama administration is consider something kind of overhaul of the current restrictions. so there might be some change there was benefit to china. and on the u.s. side, the u.s. would like china to lift restrictions on imports of livestock. and it looks like china is willing to do that on a gradual basis. so i think that there would be some positives coming out of these meetings today and tomorrow. >> and lastly, frank, what would be the most significant policy move period to come from this. again, aside from the news we've already heard about the import duties, are you looking for any big-name tie-ups, or is this about meeting and shaking hands, especially because the u.s. leadership still isn't settled, erkts speci especial
/china relationship? >> well, i think that it's a little too early to tell that this is symptomatic of the new administration. but i do expect that there will be progress in certain areas. china has been asking the u.s. to lift restrictions on high-tech exports. and i gather that the obama administration is consider something kind of overhaul of the current restrictions. so there might be some change there was benefit to china. and on the u.s. side, the u.s. would like china to lift...
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. >>> in china 500 people have been detained for spreading rumors that the world will end this friday. they belong to a group called almighty god. they are accused of preaching about the mayan prof if hecy that some believe the world will end this friday -- prophecy that some believe the world will end this friday. >>> and here in the bay area, a group of scientists plan to get together and debunk rumors of the doomsday. they will be at deer valley high school and plan to explain what the myian calendar is about and why friday's date does not mean the end of the world. the presentation is from 4:00 to 7:00 p.m. >>> the drakes oyster bay says it will challenge the agreement that will allow the company to plant and grow new oysters. now, the new deal was reached so some of the employees could keep their jobs through the holidays. the mobile homes those workers live in will not have to be removed immediately. drakes bay has until march 15th to remove all personal problem. >>> 8:15. a closed-door briefing in washington this morning. thoroughly revied the deadly -- reviewed the deadly atta
. >>> in china 500 people have been detained for spreading rumors that the world will end this friday. they belong to a group called almighty god. they are accused of preaching about the mayan prof if hecy that some believe the world will end this friday -- prophecy that some believe the world will end this friday. >>> and here in the bay area, a group of scientists plan to get together and debunk rumors of the doomsday. they will be at deer valley high school and plan to...
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Dec 19, 2012
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>> brazil and china will be great destinations and that is where populations are. tracy: what about us at home? we see more money coming to us? >> we have. the u.s. is projected based on capitol confidence arometer ernst and young twice a year, the second most popular destination point for inbound foreign capital. it is happening because we are a more stable economy and have population growth, currency is cheaper and the overall strength of our sovereign sort of picture gives investors more confidence. tracy: we don't want to take a shot, the only way to grow a companies to build something buy something. we are not doing that. >> organic growth is tougher today. you do see u.s. corporate and investors investing in the emerging market so there's a lot of interest in china and india and brazil. focus on the trends, where there will be the best economics. tracy: i wish i had better news. and stan young america's vice chair, thank you. ashley: liz claman will take us through the last hour of trading. she has the ceo of cantor fitzgerald and neo city's largest pension f
>> brazil and china will be great destinations and that is where populations are. tracy: what about us at home? we see more money coming to us? >> we have. the u.s. is projected based on capitol confidence arometer ernst and young twice a year, the second most popular destination point for inbound foreign capital. it is happening because we are a more stable economy and have population growth, currency is cheaper and the overall strength of our sovereign sort of picture gives...
WHUT (Howard University Television)
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Dec 19, 2012
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housing and employment data, the global economy continues fragile with the european debt crisis and china i in in. >> rogoff is a professor of public policy and economics at harvard, he is a coauthor of the best selling book, this time is different, eight centuries of financial folly, many consider it to be the authoritative text on the impact of financial crisis around the world. i am pleased to have ken rogoff back on this program. welcome. >> thank you, charlie. >> rose: let me start big, if i may. so i mean, how do you see as we enter a new year the global economy? >> well, to state the obvious, everybody is growing more slowly than they would like to, if at all. europe is basically flat, the u.s. is improving, but it is not exactly galloping and, you know, we are entering probably a weak quarter where people are hoping it will be stronger over the course of the year, china is slowing some and in general all of the emerging markets are slower than they were most of them india has slowed dramatically, brazil is slow, so yes, indeed it is a fragile situation, when the u.s. is one of the
housing and employment data, the global economy continues fragile with the european debt crisis and china i in in. >> rogoff is a professor of public policy and economics at harvard, he is a coauthor of the best selling book, this time is different, eight centuries of financial folly, many consider it to be the authoritative text on the impact of financial crisis around the world. i am pleased to have ken rogoff back on this program. welcome. >> thank you, charlie. >> rose:...
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china coming back. gm rationalizing europe. >> gm europe, when you say a couple quarters behind ford, are you saying progress in the quarterly financials? >> committed to rationalizing europe. >> again, a larger theme of excess capitalization at u.s. corporations, and the fact that so much money is sitting on balance sheets doing nothing. >> did you read oracle? how much money do they have. they bought back 10 billion worth of stock. these companies, you read through their stories, and you say, not only did they not extend themselves during this downturn, they conserved a lot of cash. by the way, humans did, too, in america. have you seen the numbers that the federal reserve put out last night about how much money is being -- how little debt is being taken down by citizens. we're back to levels of the '90s. federal household debt service came out last night. the percentage of disposable income is 14%, down to 10%. that's 1994 levels. >> that's a big part of morgan stanley's call on citi today. from over
china coming back. gm rationalizing europe. >> gm europe, when you say a couple quarters behind ford, are you saying progress in the quarterly financials? >> committed to rationalizing europe. >> again, a larger theme of excess capitalization at u.s. corporations, and the fact that so much money is sitting on balance sheets doing nothing. >> did you read oracle? how much money do they have. they bought back 10 billion worth of stock. these companies, you read through...
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and china. they firmly believe so many problems if they so what cannot solved without the act of collaboration of u.s. and china. what the history books 50 years to knock over 100 years since his china and the united states working together to solve these problems instead of history books blaming the united states and china for failing to respond to things that climate change and having history books that nor the incredible contributions of china over thousands of years to grow civilization and it completely overlooked that and just say the united states and china missed the opportunity is screwed up. >> ambassador, i must say when you and steve chu, secretary of energy are in china, lake -- [inaudible] actually it's a wonderful part of america. here we have two chinese immigrant families representing america. it's hard to imagine it in reverse from the chinese side. but then they are not in the great society. >> do they take it as an honor? >> and deep. as ambassador locke mentioned they want t
and china. they firmly believe so many problems if they so what cannot solved without the act of collaboration of u.s. and china. what the history books 50 years to knock over 100 years since his china and the united states working together to solve these problems instead of history books blaming the united states and china for failing to respond to things that climate change and having history books that nor the incredible contributions of china over thousands of years to grow civilization and...
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Dec 19, 2012
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they're looking to give countries like china and russ a way out of enfoing theanctions. right now the world is prettynited against ira if tngs chge down the road they don't want to be on record saying they have a bomb program. they would rather give this excuse to countries that may want it oppose us on further imposition of sanctions. melissa: michael, thanks for coming on the show. >> my pleasure. thank you. >> more breaking news on knight cam tall. adam shapiro with the latest on that. adam? hey, adam. melissa: adam turning the channel on us. we'll go back to him when we have the news. turning natural gas to liquid gold? a brand new plan to turn our surplus of natural gas into clean-burning diesel. details on that breakthrough ming u next. >>> an urban success story. irving, texas, makes it rain while other cities are going broke the mayor is here to share what they are doing right. she also has some advice for the federal government. clearly they need it. i can't wait for this. "piles of money" and good sense coming up. ♪ . melissa: a now for multibillion-dollar be
they're looking to give countries like china and russ a way out of enfoing theanctions. right now the world is prettynited against ira if tngs chge down the road they don't want to be on record saying they have a bomb program. they would rather give this excuse to countries that may want it oppose us on further imposition of sanctions. melissa: michael, thanks for coming on the show. >> my pleasure. thank you. >> more breaking news on knight cam tall. adam shapiro with the latest on...
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they're number three behind canada and china, about $460 billion a year. so lot of levers we can use here. of that $460 billion, a huge amount is tourism. is it really worth them sort of gaining this venal corrupt image with this violence. do they want o pay the millions and millions, possibly hundreds of millions in lost tourism just so they can do whatever it is that the corrupt local government is doing to this? >> steve: one of the things is this guy is being charged with is he brought into the country of mexico a gun used by the military, ammunition used by the military as well. you know what? that is flat out not true. this is a case that is so easy to dismiss and yet, we're five days away from christmas and that guy is sitting down there. >> brian: it takes some high ranking person in the state department to pick up the phone and say, get him out of there. >> steve: how about the president? they've got cable in the white house. they're watching fox news channel. that would be great for that family if he -- >> brian: even they get satellite dish. eve
they're number three behind canada and china, about $460 billion a year. so lot of levers we can use here. of that $460 billion, a huge amount is tourism. is it really worth them sort of gaining this venal corrupt image with this violence. do they want o pay the millions and millions, possibly hundreds of millions in lost tourism just so they can do whatever it is that the corrupt local government is doing to this? >> steve: one of the things is this guy is being charged with is he...
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we face the same issues with a competitive ship to economic power to china and the like. we have to educate our children better. we're doing the things. i think the issues we take on entitlement reform and education reform, these are the things that the u.s. congress and administration have to tackle in the next year on or so. >> what about europe? will the euro zone up stick together and will the uk start part of the union? david cameron said in the last couple of days there may need fob a referendum on that. >> the euro zone will stick together. they made a decision through this year. they made a decision to keep themselves together, and britain be want to be a fully fledged member of the european union and not of the euro zone. we don't have to merge our kurn stee, we don't have to american our budget policies, we don't have to do all the things they need to do to make their currency work. by the way, alexander hamilton taught us all you need to do to make single currency work a couple years ago. >> here's a point of view from the upcoming issue of the new york magazin
we face the same issues with a competitive ship to economic power to china and the like. we have to educate our children better. we're doing the things. i think the issues we take on entitlement reform and education reform, these are the things that the u.s. congress and administration have to tackle in the next year on or so. >> what about europe? will the euro zone up stick together and will the uk start part of the union? david cameron said in the last couple of days there may need fob...